Here is the link to my report that I calculated.

This gain, maybe taxed at favorable capital gains tax rates.Furthermore - you will be required to report the commission on your schedule C which may be subject to ordinary income tax rates + self employment tax.

Not reporting damages to Landlord (in the lease that they will report IMMEDIATELY)6. 

I have a 6 family deal on the table.Asking price 420k I think I could get it for 400kReal estate tax reportedly is $4000Water sewer $200 reportedlyInsurance $2700 per yrGas $600 per yrElectric $750 per yrGarbage pick up $750 per yr.Plus lawn and snow careCurrent rental income $3945After purchase projection $4200 (on low end)Cash flow on purchase would be around $1200 a month...Great neighborhood A+ and the property is in great condition...Looking for help in terms of is this a good deal... and if so what would be the best way to structure it?

But they won't count rental income until it's reported on tax returns, and all our new tenants had moved in Q1 of 2017, so we wouldn't have the rental income on our taxes for almost a year.So we waited.

Then I would say this is constructive receipt and you should report it as income.However, if the transaction is something more negative and the borrower is not doing good and doesn't have the $110,000 to pay you and you are extending him additional time/credit in hopes of him turning things around - then yes I would argue that you wouldn't report income in this case.

If you are lending to real estate investors - you should secure it with the real estate that they purchase with the funds.In the chance that it is still unsecured and it goes unpaid - you are eligible to report a business bad debt on your tax return.This loss would potentially be able to offset your other income reported on your return(W-2, interest etc).

The RMLO will provide you an underwriting  package with the following items: STATEMENT OF COMPLIANCE QUALIFIED MORTGAGE REPORT CREDIT REPORT PROOF OF INCOME REQUIRED LOAN DISCLOSURES SUPPORTING UNDERWRITING DOCUMENTS CLOSING DISCLOSUREThis underwriting package will also help you sell your note for top dollar if you ever choose to shop it!

Hopefully, you already asked to see the following items:- lease agreements (look for: special maintenance clauses and what items the tenant is responsible for repairing if any, late fee dues and dates, security and extra deposits, what the owner pays vs what the tenant pays for utilities, landscaping, pest control, etc)- payment ledger- notices given (if any)- copies of annual inspection reports- Estoppel Certificates (show rent, amount of security deposit) if you do not have an agreementYou will need the current property management company to also provide you with current tenant contact information, keys to the unit, and any paperwork listed above.

The one person paying the mortgage is also the one person that gets (and reports) rental income (settle among yourselves once in a while, like if Joe gets shafted $25k from doing this then make sure you get right with him at some point - buy him a Subaru, or each of you cover $12.5k of his slice of the next down payment, or something).